272 Capital LP Reduces Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

272 Capital LP trimmed its position in Pegasystems Inc. (NASDAQ:PEGA) by 98.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 373 shares of the technology company’s stock after selling 30,364 shares during the quarter. 272 Capital LP’s holdings in Pegasystems were worth $27,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Greenwood Capital Associates LLC purchased a new stake in shares of Pegasystems during the 3rd quarter valued at approximately $436,000. Crossmark Global Holdings Inc. raised its position in Pegasystems by 110.0% in the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock valued at $1,842,000 after purchasing an additional 13,200 shares during the period. Foundry Partners LLC acquired a new position in shares of Pegasystems in the 3rd quarter valued at $9,567,000. Pacer Advisors Inc. purchased a new position in shares of Pegasystems during the 2nd quarter worth $67,968,000. Finally, Versor Investments LP acquired a new stake in shares of Pegasystems during the 3rd quarter worth about $497,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

PEGA has been the topic of a number of recent analyst reports. Rosenblatt Securities upped their target price on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Citigroup upped their price objective on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Wedbush upped their price target on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Barclays raised their price target on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and an average target price of $85.90.

Insiders Place Their Bets

In other Pegasystems news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $72.00, for a total transaction of $54,144.00. Following the completion of the sale, the insider now directly owns 38,388 shares of the company’s stock, valued at $2,763,936. The trade was a 1.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kenneth Stillwell sold 6,200 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $94.67, for a total value of $586,954.00. Following the transaction, the chief financial officer now directly owns 18,466 shares of the company’s stock, valued at approximately $1,748,176.22. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,615 shares of company stock worth $2,254,715 in the last 90 days. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Trading Up 0.3 %

NASDAQ:PEGA opened at $96.28 on Friday. Pegasystems Inc. has a 12-month low of $44.07 and a 12-month high of $97.94. The firm has a market cap of $8.26 billion, a PE ratio of 70.28 and a beta of 1.09. The stock has a fifty day moving average price of $84.42 and a 200 day moving average price of $71.07.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $326.16 million. During the same quarter last year, the business posted $0.14 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts forecast that Pegasystems Inc. will post 1.61 EPS for the current year.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.